JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.

The Illinois Supreme Court heard arguments on Wednesday in a case that asks whether state government retirees should have to pay premiums for health insurance. The case could affect how the state tries to solve its budget-busting pension problem.